Adi Godrej to step down as chairman of Godrej Industries

Nadir Godrej will take over as the chairman and managing director of the firm from October 1.

Veteran industrialist Adi Godrej will step down from the board of Godrej Consumer Products Ltd. He, however, will continue to be chairman emeritus of the FMCG firm.

Nadir Godrej will take over as the chairman and managing director of the firm from October 1

The outgoing chairman said that it was a privilege to serve the GCPL for over four decades.

Stating that he was grateful to the GCPL board for their guidance and support, Adi gave credit to the team members "whose passion, commitment and hard work" drove the Group's success.

On his part, Nadir vowed to build upon the foundations built upon by his predecessor.

Nadir also assured that the Group would continue to serve our people and communities and create long-term value for all its stakeholders.

GCPL had on Wednesday announced earnings for the June quarter. 

The company reported a 24 per cent jump in quarterly consolidated sales to Rs 2,862 crore, up from Rs 2,311 crore it reported a year ago.

Its net profit was up 4.75 per cent at Rs 413.66. 

Consolidated earnings before interest, taxes, depreciation, and amortization, or Ebitda, grew 29 per cent.